RFG Advisory LLC Acquires 3,764 Shares of ONEOK, Inc. (NYSE:OKE)

RFG Advisory LLC raised its stake in shares of ONEOK, Inc. (NYSE:OKE - Free Report) by 16.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,825 shares of the utilities provider's stock after purchasing an additional 3,764 shares during the period. RFG Advisory LLC's holdings in ONEOK were worth $2,662,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKE. Norges Bank acquired a new position in shares of ONEOK during the 4th quarter valued at $539,554,000. Wellington Management Group LLP raised its stake in shares of ONEOK by 433.4% in the fourth quarter. Wellington Management Group LLP now owns 4,206,906 shares of the utilities provider's stock worth $422,373,000 after purchasing an additional 3,418,207 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in ONEOK by 240.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,790,760 shares of the utilities provider's stock worth $280,194,000 after buying an additional 1,971,147 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of ONEOK in the fourth quarter valued at about $182,694,000. Finally, ClearBridge Investments Ltd bought a new position in shares of ONEOK during the 4th quarter worth approximately $177,045,000. 69.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on OKE shares. Scotiabank cut their price target on shares of ONEOK from $96.00 to $93.00 and set a "sector outperform" rating on the stock in a report on Thursday. Barclays dropped their target price on shares of ONEOK from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Wells Fargo & Company decreased their price target on shares of ONEOK from $102.00 to $93.00 and set an "equal weight" rating for the company in a research note on Thursday, May 1st. Wolfe Research raised ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a report on Monday, February 10th. Finally, Citigroup decreased their target price on ONEOK from $110.00 to $102.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $103.69.

ONEOK Stock Performance

Shares of NYSE:OKE traded up $0.58 during trading on Thursday, hitting $81.10. 5,370,772 shares of the company were exchanged, compared to its average volume of 3,331,835. ONEOK, Inc. has a 52-week low of $75.48 and a 52-week high of $118.07. The stock has a 50 day moving average of $84.21 and a 200 day moving average of $95.81. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.81 and a quick ratio of 0.59. The company has a market cap of $50.66 billion, a PE ratio of 16.97, a P/E/G ratio of 3.77 and a beta of 0.94.

ONEOK (NYSE:OKE - Get Free Report) last posted its earnings results on Tuesday, April 29th. The utilities provider reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.24). The firm had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $8.23 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. During the same period last year, the company posted $1.09 EPS. As a group, equities research analysts predict that ONEOK, Inc. will post 5.07 EPS for the current year.

ONEOK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Monday, May 5th were given a dividend of $1.03 per share. The ex-dividend date was Monday, May 5th. This represents a $4.12 annualized dividend and a dividend yield of 5.08%. ONEOK's dividend payout ratio (DPR) is presently 80.47%.

ONEOK Company Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.